Intelligent money

The cover of The Economist's first November issue boldly states "How the technology behind Bitcoin could change the world". Here we are – it's 2015 and a well respected magazine acknowledges that the banking industry is facing inevitable change, just like any other. This has equally huge possibilities, as implications.

2015 and beyond is an era for the information distiller, concept-maker, broker and communicator.

The reason that Bitcoin earned an Economist front page feature is due to the technology behind it, called blockchaining which intelligently shares information on transactions and account balances in a peer-to-peer-way (from what I gather it's a bit like torrents - think Napster or Piratebay).

This shared 'intelligence' of who owns what makes the information near impossible to hack as the information is stored and shared across a global network of individuals. It also means that a central bank isn't needed in the same way.

On this premise, The Bank of England which isn't exactly known for invention, has concluded that the technology is a "significant innovation" and could have "far reaching implications" in the financial industry...